AMC, the largest cinema operator in the United States, is planning to allow bitcoin payments for some of its services.
AMC Entertainment Holdings runs the largest movie theater chain in America, and according to its CEO, it will start accepting crypto for tickets and concessions. The new form of payment is said to be available for the public later this year. Adam Aron announced the company’s plans on Monday during a Q2 earnings call.
“We are also in the preliminary stage of now exploring how else AMC can participate in this new burgeoning cryptocurrency universe and we’re quite intrigued by potentially lucrative business opportunities for AMC if we intelligently pursue further serious involvement with cryptocurrency.”Adam Aron said during a call.
Aron didn’t disclose the technology that will be used to collect the payments. People’s demand to buy online tickets with virtual currencies has been growing lately, and the firm wants to please its customers as soon as possible. AMC also announced that it is planning to open more locations in the US, Europe, and the Middle East before January 2022.
AMC Entertainment Holdings’ stock shares went from $33 to $35 after the news was announced. The 13.2% increase is good news for the company, especially after it almost appeared destined for bankruptcy as the global pandemic forced AMC to close all its locations.
Philipp Plein also announced last week that its customers can now use digital currencies as a form of payment. The company, based in Switzerland, announced earlier this week that 15 different tokens will be accepted, including bitcoin (BTC) and ether (ETH). In partnership with Coinify, purchases using crypto are available online and also in-store.